subject: How much Grants can you get from the Government for Home Solar Panels [print this page] How much Grants can you get from the Government for Home Solar Panels
To be able to purchase a full solar power panels system to run your whole homes electricity requirements, you'd need to make an investment of tens of thousands of dollars for a medium to large home. As soon as you have installed your system you may discover that it could take up to 30 years prior to your system has paid for itself. As a result of this many people are put off obtaining panels for their houses.
Just how much Will The Government Provide you with In Rebates and Incentives
The government has recognized that this really is a problem and have provided rebates and incentives for renewable energy systems like solar panels and wind turbines. In some states, you are able to obtain as much as 80% back through rebates and incentive programs. This makes obtaining panels much more viable for lots of people.
How you can Decrease Your Costs Even Further
If you are a do it yourself enthusiast, you can reduce the cost of your panels system by over 60%. An average 100watt panel will cost you in the region of $600-$800 to purchase and just $200 to develop. Homemade solar panels work just the same as shop stock and will produce the same amount of electricity.
How Rebates Work
Here is what you could anticipate. A system for $10,000 which produces around 1kw or 1000watts will get you
-30% tax credit from the federal government
-$3/watt rebate localized incentive via DSIRE.org
-$1000 State Property Tax Credit for a photovoltaic system.
As a result of these various incentive programs, the price of the solar panel system will be $10,000 less Fed Credit of $3000, Utility rebate of $3000 and state tax rebate of $1000. The total price of the system is only $3000 after all those incentives.
The government also considers the physical aspects of your installation before granting solar subsidies. Your system efficiency also dictates just how much you'll be able to get back so the geographical location of your house, weather conditions, obstructions, shadings, angle of installation, module efficiency, and other aspects that could impact your solar system efficiency also dictates the amount of subsidy you get for your system.
